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Supply drops, demand rising for Moscow residential rental property

Posted by Editor on Wednesday, 16 March 2011 23:33 | Published in Property & Building
Supply drops, demand rising for Moscow residential rental property

February 2011 has been marked by high activity of potential tenants for Moscow residential property. Supply of apartments  increased by 45% compared to January and the index is 60% higher than 2010. Supply remained almost stable at the level of January, however, it is 30% lower than in February 2010.

The average rent sought by landlords continued to grow due to limited supply and increasing demand and averaged $6,590 per apartment per month, according to IntermarkSavills estate agency.

HBowever there was price resistance by prospectoive tenanst with their average budget amounting to  $5,234 per apartment per month.

There was little demand for one room ap[artments and the rents sought fopr them dropped on average in February by 14%.

Supply drops, demand rising for Moscow residential rental property
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